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New Additional Medicare Tax

Beginning January 1, 2013, the Additional Medicare Tax applies to an individual’s Medicare wages, Railroad Retirement Tax Act compensation and self-employment income that exceeds a threshold amount based on the taxpayer’s filing status. Employers are responsible for withholding the 0.9% additional Medicare tax on an individual’s wages and compensation paid in excess of $200,000 in a calendar year. There is no employer match for the Additional Medicare Tax.

Questions and Answers for the Additional Medicare Tax
The following questions and answers provide employers and payroll service providers information that will help them as they prepare to implement the Additional Medicare Tax which goes into effect in 2013. The Additional Medicare Tax applies to individuals’ wages, other compensation, and self-employment income over certain thresholds; employers are responsible for withholding the tax on wages and other compensation in certain circumstances. The IRS has prepared these questions and answers to assist employers and payroll service providers in adapting systems and processes that may be impacted.BASIC

FAQs
When does Additional Medicare Tax start?
Additional Medicare Tax goes into effect for taxable years beginning after December 31, 2012.

What is the rate of Additional Medicare Tax?
The rate is 0.9 percent.

When are individuals liable for Additional Medicare Tax?
An individual is liable for Additional Medicare Tax if the individual’s wages, other compensation, or self-employment income (together with that of his or her spouse if filing a joint return) exceed the threshold amount for the individual’s filing status:

Filing Status

Threshold Amount

Married filing jointly $250,000
Married filing separately $125,000
Single $200,000
Head of household (with qualifying person) $200,000
Qualifying widow(er) with dependent child $200,000

What wages are subject to Additional Medicare Tax?
All wages that are currently subject to Medicare Tax are subject to Additional Medicare Tax if they are paid in excess of the applicable threshold for an individual’s filing status. For more information on what wages are subject to Medicare Tax, see the chart, Special Rules for Various Types of Services and Payments, in section 15 of Publication 15, (Circular E), Employer’s Tax Guide.

By Julie Lawrence, CFP®

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